Novartis AG ($NVS) has agreed to acquire MorphoSys AG ($MOR) for EUR 68.00 per share, totaling approximately $3 billion. This acquisition is the largest in German biotech history and one of the largest in Europe, offering an 85.0% premium over MorphoSys's price before acquisition leaks. Following positive phase 3 results, Royalty Pharma ($RPRX) bought 1.34 million shares of MorphoSys for $100 million and provided $300 million in development bonds, expecting a 2.2x return. Upon deal closure, Royalty Pharma will receive $97.3 million back, incurring some losses due to foreign exchange rates.
Today's M&A and SPAC notes $MOR to be acquired by $NVS for EUR 68.00, 85.0% premium, $2.9 billion $KRTX / $BMY filed DEFM14a, vote Mar 12, pulled HSR Feb 8, to refile Feb 12 $LEGT/U $175 million IPO https://t.co/IAidu7PeCi
$NVS puts a €2.7bn BET (geddit?!) on $MOR. Via @ApexOnco -> https://t.co/qxlumxvIjc $INCY
Largest acquisition in German 🇩🇪 biotech ever and one of the largest in 🇪🇺 Follows positive phase 3 results >100% premium compared to price at JPM before leaks Good job to the $MOR team 👍 https://t.co/tB4eIFOBRW
I underestimated how positive the $MOR news are for $RPRX: - $RPRX bought 1.34M shares of $MOR for $100M. When the deal closes, they'll get $97.3M back (lost some money due to FX). - $RPRX provided $300M of financing to $MOR in the form of development bonds with an expected 2.2x… https://t.co/ylc39Jlka5
Congrats for $MOR longs but I don't get $NVS https://t.co/FHizts0dgT
So... $NVS just bought a $MOR drug that's going to be rejected by the FDA?
Yeah. $NVS buying Morphosys for close to $3B. Smoke=fire here https://t.co/gvgCfZqR1r
$MOR $NVS https://t.co/eNDgfdhQ0m
Turns out, $NVS can only afford to buy assets that failed in their clinical trials. 🤣 $CYTK $MOR